Cashback from Stroud

STROUD & Swindon Building Society is launching a cashback mortgage offering to return 3.5 per cent of the loan amount on borrowings of up to 75 per cent of purchase price. Advances of up to 90 per cent of purchase price will receive 2.5 per cent cashback. Variable interest rates of 7.74 per cent apply.

Halifax is offering discounts of 3.75 per cent off the 7.64 variable rate for loans up to 95 per cent. Over three years, the rate is 6.34 per cent, a discount of 1.3 per cent. For loans up to 60 per cent, the discounted rate is 2.99 per cent for one year and 5.99 per cent for three years.

Leeds offers a fixed mortgage that is also stepped, starting at 2.74 per cent for three months, rising to 4.74 for another three months and 6.74 for the next 12 months.

National & Provincial has launched two fixed rate mortgages. Its one-year fix, until August 1995, is at 4.95 per cent, with the two-year at 6.45 per cent.